City of Toronto Commercial General Liability Coverage
BIAs are covered under the City of Toronto’s policy for Commercial General Liability Coverage.
The $308 or so annual deduction from a BIAs levy covers any liability issues related to festivals, special events and streetscape initiatives and allows BIAs to satisfy the municipality’s insurance requirement for up to $5,000,000 coverage around festivals/special events and road closures.
Most importantly the $308 covers the $5,000,000 deductible the city policy carries.
Through TABIA advocacy, BIAs have access to this coverage through the City of Toronto. To retain this coverage independently would not be economical for most BIAs.
Learn more about your BIA’s Commercial General Liability Coverage here: Insurance Coverage – City of Toronto
Note, when The City of Toronto and Toronto Parking Authority requests to be added as an additional insured on the policy for an event/festival/street furniture, they are referring to their own Commercial General Liability Coverage.
Contact your BIA Office advisor as they are the link to this insurance.